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Author Question: A perfectly competitive firm is more likely to shut down during a recession, when the demand for its ... (Read 80 times)

Kthamas

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on: Jun 29, 2018
A perfectly competitive firm is more likely to shut down during a recession, when the demand for its product declines, than during an economic expansion, because during the recession it might be unable to cover its
 
  A) fixed costs.
  B) variable costs.
  C) external costs.
  D) depreciation due to machinery becoming obsolete.

Question 2

If Katie purchases two slices of pizza and six breadsticks to maximize her total utility, then
 
  A) a slice of pizza costs three times as much as a breadstick.
  B) a breadstick costs three times as much as a slice of pizza.
  C) her marginal utility from the second slice of pizza divided by the price of a slice of pizza is equal to her marginal utility from the sixth breadstick divided by the price of a breadstick.
  D) Both answers A and C are correct.


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essyface1

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


Kthamas

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Reply #2 on: Jun 29, 2018
Thank you


essyface1

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Reply #3 on: Jun 29, 2018
No problemo


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